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PAG LIN
1 1 Section 1. Section 627.6, Code 1995, is amended by adding
1 2 the following new subsections:
1 3 NEW SUBSECTION. 14. The debtor's interest, not to exceed
1 4 one thousand dollars in the aggregate, in any combination of
1 5 the following property:
1 6 a. A residential rental deposit held by a landlord as a
1 7 security deposit, including interest earned on such deposit as
1 8 a result of a statute or rule requiring that such deposit be
1 9 placed in an interest-bearing account.
1 10 b. A residential utility deposit held by an electric, gas,
1 11 telephone, or water company as a condition for initiation or
1 12 reinstatement of such utility service, including interest
1 13 earned on such deposit as a result of a statute or rule
1 14 requiring that such deposit be placed in an interest-bearing
1 15 account.
1 16 NEW SUBSECTION. 15. The debtor's interest in any rent
1 17 paid to the landlord in advance of the date due under an
1 18 unexpired residential lease, not to exceed in value seven
1 19 hundred fifty dollars.
1 20 EXPLANATION
1 21 This bill adds two new subsections to the list of property
1 22 which is exempt from execution under section 627.6. These new
1 23 subsections permit a debtor to claim a limited amount of
1 24 residential and utility security deposits, as well as a
1 25 limited amount of prepaid rent, as exempt property.
1 26 In a bankruptcy proceeding, these moneys must be listed as
1 27 assets on schedule B of a debtor's bankruptcy filing. Under
1 28 this bill, if the debtor claimed on the debtor's schedules
1 29 such deposits or prepaid rent as exempt, the bankruptcy court
1 30 could not require the landlord or utility to forward the
1 31 security deposits or prepaid rent to the bankruptcy trustee
1 32 for use as part of the bankruptcy estate.
1 33 LSB 3127SC 76
1 34 jls/cf/24
Text: SSB02053 Text: SSB02055 Text: SSB02000 - SSB02099 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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